Why is no-one satisfied with the results of the July Crisis Council?

As one looks at the way in which the Heads of Government keep falling short of expectations, there is a growing feeling that they have not grasped the magnitude of the natural consequence of their actions in recent months. The statement that only Greece will ever default seems laughable when set against the preparations for Collective Action Clauses in all eurozone government bonds to make clear private holders are subordinated. In aggregate, Eurozone public debts are teetering at the brink of sustainability.